Biotie provides UCB partnership update on SYN118
(Thomson Reuters ONE) -
BIOTIE THERAPIES CORP. STOCK EXCHANGE RELEASE 23 November 2011 at 9.30
a.m.
Biotie provides UCB partnership update on SYN118
Biotie (NASDAQ-OMX; BTH1V) announced in May 2011 the results from an exploratory
Phase 2a study of its HPPD inhibitor SYN118 in Parkinson's disease (PD). These
data did not show a significant improvement in measures of PD motor function
when compared to placebo. SYN118 has been subject to an option agreement with
UCB as part of a broader partnership for the development of new treatments for
neurological disorders. At the time of the original data announcement, Biotie
indicated that it did not expect UCB to exercise its option to license the
compound based on the results generated in the Phase 2a study. After completing
its evaluation of these data, UCB has confirmed to Biotie that it will not
exercise its option to license the compound for further development. Biotie has
already fully impaired the carrying value of this asset due to the unlikelihood
of UCB exercising their option.
The UCB collaboration also includes Biotie's novel adenosine A2a receptor
antagonist tozadenant (SYN115), which is in phase 2b development for Parkinson's
disease, and this is unaffected by the decision on SYN118. Tozadenant targets a
mechanism of action different from that of SYN 118, a mechanism which has been
shown to significantly modulate the off-time (time when Parkinson's
patients have rigidity and other associated problems) without an increase in
dyskinesias.
About SYN118
SYN118 is a potent and selective inhibitor of 4-hydroxyphenylpyruvate
dioxygenase (HPPD). HPPD is an enzyme in the primary pathway responsible for the
breakdown of tyrosine, the precursor of the neurotransmitter dopamine. This
novel point of intervention has been thought to offer the potential to induce a
sustained increase in dopamine synthesis in specific regions of the brain
resulting in clinical benefit.
SYN118 was discovered by AstraZeneca and developed by Syngenta and their partner
Swedish Orphan Biovitrum (Sobi) for the treatment of hereditary tyrosinemia type
1. In 2007, Biotie (formerly Synosia) obtained rights from Syngenta to develop
and commercialize SYN118 in non-orphan diseases. Sobi markets the compound in
Europe, the United States, Australia and Russia for the treatment of hereditary
tyrosinemia type 1, under the brand name Orfadin®.
In Turku, 23 November 2011
Biotie Therapies Corp.
Timo Veromaa
President and CEO
For further information, please contact:
Virve Nurmi, Investor Relations Manager
tel. +358 2 274 8911, e-mail: virve.nurmi(at)biotie.com
Media contact:
Julie Walters, Tudor Reilly
Office: +44 (0) 20 7034 7610
Mobile +44 (0) 775 362 6967
About Biotie
Biotie is an international biopharmaceutical company focused on the development
of innovative, clinically differentiated medicines to address unmet medical
needs primarily associated with neurological and psychiatric diseases and
selected inflammatory diseases. Biotie aims to develop treatment solutions that
will improve the lives of patients with conditions such as Parkinson's and
Alzheimer's diseases, drug dependence and inflammatory liver disease.
Biotie's highly experienced development teams in Europe and the US are focused
on efficiently delivering safety and efficacy data for the company's compounds.
For niche indications, Biotie will consider bringing products to market by
itself. For larger indications, it will seek strategic partnerships with
pharmaceutical partners for late-stage development and commercialization.
Current pharmaceutical partners include Lundbeck, Roche, UCB Pharma, and
Seikagaku.
Biotie's most advanced product, nalmefene for alcohol dependence, has completed
Phase 3 clinical development by licensing partner Lundbeck.
This announcement is distributed by Thomson Reuters on behalf of
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(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Biotie Therapies Oyj via Thomson Reuters ONE
[HUG#1565991]
Unternehmensinformation / Kurzprofil:
Datum: 23.11.2011 - 08:31 Uhr
Sprache: Deutsch
News-ID 90527
Anzahl Zeichen: 4836
contact information:
Town:
Turku
Kategorie:
Business News
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